SME Development Finance Corporation (SDFC) has rebranded and is now officially operating under the name “SME Digital.”
The company said its name change was approved at the Extraordinary General Meeting of shareholders held on 30 October 2025. Following approval from the Maldives Monetary Authority (MMA), the new name has been officially registered Economic Ministry on Tuesday.
According to the company, SME Digital will serve as a comprehensive digital platform offering a wide range of essential services for Micro, Small, and Medium-sized Enterprises (MSMEs) across all industries. The company stated that its services will go beyond financing solutions to help businesses manage financial transactions, improve operational efficiency, and access broader markets. Through this transformation, SME Digital aims to become a financial institution providing integrated resources and digital tools that empower SMEs at every stage of their journey, from startup and growth to expansion and digital transformation.
We have officially rebranded to SME Digital! pic.twitter.com/XlQ73qWFcI
— SME Digital (@SDFC_mv) November 10, 2025
The company noted that, following its recent transition to a subsidiary of the Bank of Maldives (BML), it has begun integration efforts with BML to improve customer convenience and accessibility. Customers can now make payments for SME Digital facilities directly through the BML Mobile Banking App, using secure API connectivity.
SME Digital also said that its Mobile App will be launched soon, allowing customers to update profiles, view financing details, access payment solutions, and utilize a variety of digital services. In the next phase, the company plans to introduce a nationwide digital marketplace to connect entrepreneurs, service providers, and business partners across the Maldives, facilitating collaboration and market access for SMEs.
Commenting on the rebranding, SME Digital’s CEO, Badhurudheen Hassan, said the rebranding marks the beginning of the company’s renewed commitment to transforming the entire ecosystem for small and medium-sized enterprises.
“Today’s SMEs need more than financing; they need strong business networks, technical expertise, digital infrastructure, and ongoing support. At SME Digital, we are dedicated to driving sustainable growth and long-term success through these key enablers,” he added.
The company added that it aims to become the Maldives’ first Shariah-compliant financial institution operating with modern digital technology to accelerate the growth of the MSME sector. It said that the new brand identity and suite of digital services will be introduced in phases over the coming months, after obtaining all necessary permits and licenses.
The company emphasized that the rebranding and name change will not affect customers, with all approved financing facility terms and sanctions remaining unchanged. However, it noted that its General Terms and Conditions have been updated to reflect the rebranding and new system integrations.
The rebrand follows the government’s sale of its stake in SDFC to the national bank, Bank of Maldives (BML) in July, part of a five-year financing agreement worth MVR 1.9 billion to support SME growth.